News Summary

Tulum Energy, a startup that emerged from the Techint Group, has successfully raised $27 million in a seed funding round led by TDK Ventures and CDP Venture Capital. The funding will be used to develop a pilot plant in Mexico to produce hydrogen through a unique methane pyrolysis process initially discovered by Techint engineers between 2002 and 2005. This process, which splits methane into pure hydrogen and carbon without emitting carbon dioxide, was overlooked for nearly two decades. Tulum’s method stands out as it does not require expensive catalysts and utilizes an electric arc furnace. The startup aims to produce hydrogen at a competitive price of $1.50 per kilogram in the U.S., potentially offering a cost-effective and eco-friendly alternative to traditional hydrogen production methods.